King Charles III's coronation backed to be a bank holiday

King Charles III’s coronation is tipped to take place on June 3, 2023, with Business Secretary Jacob Rees-Mogg giving his backing for the occasion to be a bank holiday.

Mr Rees-Mogg has publicly offered his backing for an additional bank holiday to be added to the UK calendar, and insisted it will not hamper the economy in any big way.

“The coronation is an important symbolic act with constitutional resonance about the stability of our system,” he was quoted in The Telegraph as saying.

“To have a day off for that is perfectly reasonable, and the effect on growth will not be enormous.”

The UK had a four-day bank holiday weekend in June to celebrate the queen’s platinum jubilee and another public holiday in September for her funeral.

Some figures in Liz Truss’s new administration are said to be wary of how an extra bank holiday next year could suppress economic growth.

The coronation ceremony, set to be the first witnessed by many generations of Britons, will form the centrepiece of days of celebration to mark the beginning of the monarch’s reign.

The queen’s eldest son became king the moment his mother died but the coronation will be a public display of his accession to the throne. He will also take a series of vows as each monarch in the past had to.

UK officials said the date had been set for the ceremony, due to be held at Westminster Abbey.

Sources said planners are working towards that Saturday at the beginning of the summer, although discussions over which day — the Friday or the Sunday — will be a bank holiday are continuing.

Buckingham Palace declined to comment.

Since the late queen died in early September, there has been speculation that an extra bank holiday would be declared for the king’s coronation.

Some reports suggested the king would push for June 2 as his coronation date in a tribute to his mother, as this was the date she was crowned in 1953.

By June next year, the king will be 74, making him the oldest person to be crowned in British history.

He is said to be keen for a smaller, more low-key version of earlier ceremonies.

Representatives of different faiths are expected to be invited, as the king has indicated he will be the defender of all faiths, not only one.

He will be crowned alongside his wife, Queen Consort Camilla.

When Elizabeth II was crowned in 1953 more than 8,000 guests from 129 nations travelled to Westminster Abbey, with temporary platforms erected to seat the guests, including every member of the British aristocracy.

Safety restrictions mean that nowadays the church can only hold about 2,000, providing a headache for planners.

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How to invest in gold

Investors can tap into the gold price by purchasing physical jewellery, coins and even gold bars, but these need to be stored safely and possibly insured.

A cheaper and more straightforward way to benefit from gold price growth is to buy an exchange-traded fund (ETF).

Most advisers suggest sticking to “physical” ETFs. These hold actual gold bullion, bars and coins in a vault on investors’ behalf. Others do not hold gold but use derivatives to track the price instead, adding an extra layer of risk. The two biggest physical gold ETFs are SPDR Gold Trust and iShares Gold Trust.

Another way to invest in gold’s success is to buy gold mining stocks, but Mr Gravier says this brings added risks and can be more volatile. “They have a serious downside potential should the price consolidate.”

Mr Kyprianou says gold and gold miners are two different asset classes. “One is a commodity and the other is a company stock, which means they behave differently.”

Mining companies are a business, susceptible to other market forces, such as worker availability, health and safety, strikes, debt levels, and so on. “These have nothing to do with gold at all. It means that some companies will survive, others won’t.”

By contrast, when gold is mined, it just sits in a vault. “It doesn’t even rust, which means it retains its value,” Mr Kyprianou says.

You may already have exposure to gold miners in your portfolio, say, through an international ETF or actively managed mutual fund.

You could spread this risk with an actively managed fund that invests in a spread of gold miners, with the best known being BlackRock Gold & General. It is up an incredible 55 per cent over the past year, and 240 per cent over five years. As always, past performance is no guide to the future.

Red flags

Promises of high, fixed or 'guaranteed' returns.
Unregulated structured products or complex investments often used to bypass traditional safeguards.
Lack of clear information, vague language, no access to audited financials.
Overseas companies targeting investors in other jurisdictions - this can make legal recovery difficult.
Hard-selling tactics - creating urgency, offering 'exclusive' deals.

Courtesy: Carol Glynn, founder of Conscious Finance Coaching

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Important questions to consider

1. Where on the plane does my pet travel?

There are different types of travel available for pets:

Manifest cargo
Excess luggage in the hold
Excess luggage in the cabin

Each option is safe. The feasibility of each option is based on the size and breed of your pet, the airline they are traveling on and country they are travelling to.

2. What is the difference between my pet traveling as manifest cargo or as excess luggage?

If traveling as manifest cargo, your pet is traveling in the front hold of the plane and can travel with or without you being on the same plane. The cost of your pets travel is based on volumetric weight, in other words, the size of their travel crate.

If traveling as excess luggage, your pet will be in the rear hold of the plane and must be traveling under the ticket of a human passenger. The cost of your pets travel is based on the actual (combined) weight of your pet in their crate.

3. What happens when my pet arrives in the country they are traveling to?

As soon as the flight arrives, your pet will be taken from the plane straight to the airport terminal.

If your pet is traveling as excess luggage, they will taken to the oversized luggage area in the arrival hall. Once you clear passport control, you will be able to collect them at the same time as your normal luggage. As you exit the airport via the ‘something to declare’ customs channel you will be asked to present your pets travel paperwork to the customs official and / or the vet on duty.

If your pet is traveling as manifest cargo, they will be taken to the Animal Reception Centre. There, their documentation will be reviewed by the staff of the ARC to ensure all is in order. At the same time, relevant customs formalities will be completed by staff based at the arriving airport.

4. How long does the travel paperwork and other travel preparations take?

This depends entirely on the location that your pet is traveling to. Your pet relocation compnay will provide you with an accurate timeline of how long the relevant preparations will take and at what point in the process the various steps must be taken.

In some cases they can get your pet ‘travel ready’ in a few days. In others it can be up to six months or more.

5. What vaccinations does my pet need to travel?

Regardless of where your pet is traveling, they will need certain vaccinations. The exact vaccinations they need are entirely dependent on the location they are traveling to. The one vaccination that is mandatory for every country your pet may travel to is a rabies vaccination.

Other vaccinations may also be necessary. These will be advised to you as relevant. In every situation, it is essential to keep your vaccinations current and to not miss a due date, even by one day. To do so could severely hinder your pets travel plans.

Source: Pawsome Pets UAE

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